Luke Vargas

According to administration officials, that would represent a 22.6% reduction from projected fiscal 2025 spending and a with the budget blueprint envisioning far-reaching cuts to federal environmental, renewable energy, education, and foreign aid programs.

According to administration officials, that would represent a 22.6% reduction from projected fiscal 2025 spending and a with the budget blueprint envisioning far-reaching cuts to federal environmental, renewable energy, education, and foreign aid programs.

Immune from the proposed cuts are Medicare, Medicaid, and Social Security, while the plan seeks spending increases for defense, border security, air and rail safety, veterans, and law enforcement. Lawmakers will likely spend months debating which elements of the plan should become law.

Immune from the proposed cuts are Medicare, Medicaid, and Social Security, while the plan seeks spending increases for defense, border security, air and rail safety, veterans, and law enforcement. Lawmakers will likely spend months debating which elements of the plan should become law.

Meanwhile, President Trump has signed an executive order cutting off federal funding of public media, including PBS and NPR, saying that, quote, neither entity presents a fair, accurate or unbiased portrayal of current events to taxpaying citizens.

Meanwhile, President Trump has signed an executive order cutting off federal funding of public media, including PBS and NPR, saying that, quote, neither entity presents a fair, accurate or unbiased portrayal of current events to taxpaying citizens.

His efforts to shut down funding for public broadcasting are the latest of several battles with the media, including a defamation suit against Disney's ABC News last December and the suing of Paramount Global's CBS, which is currently in mediation with Trump. Officials at PBS and NPR didn't immediately respond to requests for comment.

His efforts to shut down funding for public broadcasting are the latest of several battles with the media, including a defamation suit against Disney's ABC News last December and the suing of Paramount Global's CBS, which is currently in mediation with Trump. Officials at PBS and NPR didn't immediately respond to requests for comment.

Turning to trade now, we are seeing signs that two of the world's biggest economies are looking to resolve the trade war with the U.S. In an interview with the Financial Times, the EU's top trade negotiator, Maros Shevchevich, said the bloc could offer to buy $56 billion worth of U.S. goods.

Turning to trade now, we are seeing signs that two of the world's biggest economies are looking to resolve the trade war with the U.S. In an interview with the Financial Times, the EU's top trade negotiator, Maros Shevchevich, said the bloc could offer to buy $56 billion worth of U.S. goods.

Joshua Kirby covers the European economy for us and says the proposal includes buying American liquefied natural gas as well as agricultural products like soybeans.

Joshua Kirby covers the European economy for us and says the proposal includes buying American liquefied natural gas as well as agricultural products like soybeans.

At the same time, China has said it's considering starting talks with the U.S. to halt the trade war, but only if Washington shows sincerity through concrete measures like canceling tariffs.

At the same time, China has said it's considering starting talks with the U.S. to halt the trade war, but only if Washington shows sincerity through concrete measures like canceling tariffs.

Trump has said that's a non-starter without significant concessions from Beijing, such as increased access to Chinese markets, even as he's also said that levies on Chinese goods are unlikely to remain anywhere near the current 145% figure. China's Commerce Ministry said it had noted repeated U.S.

Trump has said that's a non-starter without significant concessions from Beijing, such as increased access to Chinese markets, even as he's also said that levies on Chinese goods are unlikely to remain anywhere near the current 145% figure. China's Commerce Ministry said it had noted repeated U.S.

signaling on the possibility of adjustments to those tariffs but didn't give a timeline for possible trade talks with Washington. Shares of Apple are down off hours. While the company beat analyst expectations on quarterly sales yesterday, investors appear more focused on its tariff exposure.

signaling on the possibility of adjustments to those tariffs but didn't give a timeline for possible trade talks with Washington. Shares of Apple are down off hours. While the company beat analyst expectations on quarterly sales yesterday, investors appear more focused on its tariff exposure.

CEO Tim Cook predicted $900 million in added costs from tariffs in the June quarter, but admitted that things could get much worse from there, and said the company plans to ship most U.S.-bound iPhones from India and Vietnam by this summer as it urgently tries to de-risk its supply chain.

CEO Tim Cook predicted $900 million in added costs from tariffs in the June quarter, but admitted that things could get much worse from there, and said the company plans to ship most U.S.-bound iPhones from India and Vietnam by this summer as it urgently tries to de-risk its supply chain.